PM launches high-powered council to fix the economy

Prime Minister Tun Dr Mahathir Mohamad will head the Economic Action Council that is formed to tackle the economy and arrest the rising cost of living. — Picture by Shafwan Zaidon

KUALA LUMPUR, Feb 11 — The government has formed a council comprising ministers and business leaders to tackle the economy and arrest the rising cost of living.

The Prime Minister’s Office said the Economic Action Council’s main objective was to stimulate economic growth and to improve equal distribution of wealth, as well as to look at issues related to the cost of living, human resource, poverty, and home ownership.

“This council was formed to respond to the people’s concerns about the problems they face, particularly the economy,” said the Prime Minister’s Office in a statement.